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Strategies & Market Trends : FAVORITE TA INDICATORS

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To: Sidney Reilly who wrote (53)	10/6/1997 9:57:00 PM
From: ftth	of 56

Bob, I'll try and give more details later this week when I have some more time, but none of these 4 meet the criteria I look for. Most importantly, they are in a downtrend. A preceeding strong uptrend is vital to the C&H "working" correctly (at least for the way I interpret and use the pattern). Briefly, an "overbought" condition is necessary, off a strong and continuous uptrend (strong accumulation), in order for the pattern to play out according to plan, i.e. a resumption of the accumulation after the overbought pressure has clearly been releived. The edges and bottom of the cup don't have the same meaning when they occur after a down trend, or even after a consolidation. For the way I use the pattern, there is far more to it than just meeting the basic shape criteria. Both my chart studies and experiences have overwhelmingly convinced me that the success rate of the C&H requires these aforementioned conditions leading to the C&H, which sort of "pre-loads" the stock into the correct state for the pattern to work. Not a very clear answer, I know---I'll give more details later. dh

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